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Car Insurance: Telematics Tariffs Top or Flop?

Thursday, 02.10.14 , written by Anja Schlicht With telematics tariffs or pay-as-you-drive tariffs, the contribution of the motor insurance can be reduced with the driving behavior. According to a recent study by R + V Versicherung, only one in three respondents would opt for such a tariff. A completely different picture shows, however, according to Sparkassen DirektVersicherung another survey.

Too fast on the road: Telematics rates rate driving style

Telematics tariff yes or no? This question was asked in a recent survey of R + V motor insurance 1,500 customers who were traveling for 12 months with a telematics box installed in the car. With her the driving behavior was recorded and evaluated. The better the so-called score value, the sooner the driving style could have a positive effect on the insurance contribution. However, although more than 60 percent of respondents believe they could reduce the pay-as-you-drive rate their premiums, only 35 percent said they would conclude a car insurance.

However, a representative survey by the Hamburg Institute for Management and Economic Research (IMWF) comes to a completely different conclusion . Only one in three would opt for a telematics tariff, two out of three study participants can “imagine their use in the future,” reports Sparkassen Direktversicherung. It currently offers the only telematics tariff in Germany with “S-Drive”.

For the time being, R + V motor insurance will not offer a telematics tariff

Both insurers have different opinions on the telematics tariffs. Due to the immature technology and probably also because of the low customer acceptance , which the R + V study proves, the insurer will offer “for the foreseeable future no telematics-based insurance tariff”. Big problem of pay-as-you-drive tariffs: “The built-in telematics boxes in the car record the driving behavior in small parts. But the system can not interpret this data, “explains R + V project manager Marc-Oliver Matthias

Sparkassen direct insurance convinced by telematics tariff

By contrast, Sparkassen Direktversicherung believes that the S-Drive telematics tariff will continue to be offered. Finally, “German motorists appreciate the telematics security service,” it says in a press release. Currently there is a waiting list for those interested. According to a survey by the provider, insured persons particularly appreciate that an ambulance is automatically alerted to serious accidents. In addition, the opportunity to save money not only with the right driving style, but also in the course of the competition “driver of the month” for three months to get a free motor insurance.

Insured persons appreciate the emergency call service of the pay-as-you-drive tariffs

The two studies of the insurers are not only contradictory statements. Some results coincide. For example, the automatic emergency call system , which immediately requests help in the event of a major accident, has been rated as very good. According to R + V, as many as two-thirds of those surveyed could imagine paying for this service, but not for being able to locate the vehicle in the event of theft. Also in the survey of the Sparkassen Direktversicherung estimate only 13 percent of respondents, the vehicle tracking function as a major advantage of the offer.

Anyone wanting to conclude a telematics tariff during a car insurance change this year will hardly have the opportunity to do so. Because the offer remains limited. However, should the evaluation of the telematics data improve in the future, so that, for example, the driving behavior can be evaluated objectively in relation to other road users , it can be assumed that further providers will follow. If then the acceptance increases that personal driving data must be transmitted and evaluated for the exact evaluation of the driving style, the pay-as-you-drive offers could soon be in great demand.

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Anja Schlicht

editorial staff

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